forex trading – MaiMarFX

2024 – A Pivotal Year

January 8, 2024/in General News & Updates /by MaimarFX

Welcome to a new year that will hopefully bring us some positive news. We hope you have all had a good start to the new year and have recovered well over the festive period.

This year is not only a leap year, but also a year of elections. First and foremost, the U.S. election and its result in November will receive the most attention. We are also living in times of unrest, uprisings and wars, which could lead to a tsunami on the financial markets at any time. So be vigilant.

From a monetary policy perspective, what will this year bring?

This year will be dominated by interest rate cuts after central banks around the world initiated the most aggressive tightening campaign in decades during 2022 and 2023. Now, since inflation is seen to retreat, central bankers are poised to begin easing monetary policy again. The Federal Reserve will lead the pivot by lowering rates by 75bp in 2024 with the first cut expected to be in March. Both European Central Bank and the Bank of England are expected to cut rates in June.

Skeptics however warn, that the sources of inflation risk are wide while the central bank tools are narrow and that monetary policy did not have much to do with the post-pandemic price pressure, neither its slowing.

EUR/USD and GBP/USD

If we take a quick look at the technical picture in the euro and the cable, we can see that both currency pairs have tried to break out above the EMA200 average, but have not yet managed to do so. The short-term trend therefore remains sideways. Our attention is focused on a clear break above the EMA200 (blue line).

GBP/USD:

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Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

We wish you good trades!

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Signal Service To Be Continued On 7 November

November 1, 2022/in General News & Updates /by MaimarFX

Dear traders,

After an extended trading break, we have been back at the trading desk for three weeks now and have already been able to make a few profits. From 7 November 2022, we will also be offering our signals service again for all interested traders.

We wish you all good trades!

Liebe Trader,

nach einer verlängerten Trading-Pause sind wir seit nun drei Wochen wieder zurück am Trading Desk und konnten bereits ein paar Gewinne einfahren. Ab dem 7. November 2022 bieten wir auch wieder unseren Signalservice für alle interessierten Trader an.

Wir wünschen allen gute Trades!

MaiMarFX Team

Can The U.S. Dollar Regain Some Strength This Week?

May 23, 2022/in General News & Updates /by MaimarFX

The U.S. dollar retreated in the last week, pushing the euro and British pound higher into overbought territory as a result. This week, traders will watch the FOMC minutes (Wednesday) and the Federal Reserve’s preferred gauge of inflation, the PCE index (Friday). These reports may revive some strength in the greenback but we bear in mind that the market’s greatest concern is a U.S. recession with markets pricing out some Fed tightening in 2023.

GBP/USD – Should bulls dream of 1.30?

Positive U.K. data and a weakening dollar have helped to push the cable higher but the zone between 1.26 and 1.2650 (green ellipse) could come in as a crucial resistance. Moreover, the pair entered overbought territory, making corrections toward 1.24 more likely now. However, should bulls make their way up to 1.26 and even be able to push the cable above 1.2650, then there is little in the way of resistance before 1.30 comes into play. On the downside, we expect the 1.24-area to serve as a support.

EUR/USD – Nothing new between 1.0650 and 1.0450

Euro bulls aim to break above 1.06 despite the current overbought situation. If 1.0610 finally breaks to the upside, gains might be extended toward 1.0640-50 but it’s only a question of time when the euro will have to correct some of its gains. A current support-area is seen between 1.05-1.0450.

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

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Greenback With A Tailwind After Inflation Jump

May 13, 2021/in General News & Updates /by MaimarFX

U.S. consumer prices surprised the market yesterday with the highest increase in 13 years. Federal Reserve Vice Chair Richard Clarida said he was surprised by the jump, but that it should prove largely transitory. Market participants however question the Fed’s control of inflation amid concern that the central bank might wait too long to address the increase while the U.S. is overheating.

As expected, the greenback advanced against other peers in reaction to the CPI report.

EUR/USD: The pair tumbled towards 1.2050 on the back of a strengthening dollar. If the 1.2050-level breaks, the next target is 1.20 where we see a crucial support. On the upside we expect the 1.2150-area to serve as a resistance while a break above 1.2160 could reinvigorate bullish momentum towards 1.22.

GBP/USD: More bearish momentum could be in store as long as the cable remains below 1.4140. It will be interesting now whether the 1.40-support holds. Below 1.3990 we target the 1.3920-mark.

DAX: We expect the index to fluctuate between 15300 and 14980. A break above 15340 could push the DAX higher towards 15500 whereas a downside break of 14950 could lead to further losses towards 14800.

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Quiet Trading: Waiting For Larger Fluctuations

April 30, 2021/in General News & Updates /by MaimarFX

The U.S. GDP expanded at a 6.4 percent annualized rate in the first quarter, supporting the Fed’s strong assessment of the economy. In addition, President Joe Biden’s proposal of two additional spending plans would infuse trillions more dollars into the U.S. economy over the next decade. The U.S. dollar, however, ended yesterday’s trading day virtually unchanged against its peers.

The DAX turned negative after failing to overcome the 15340-mark and slid below 15100. As long as the crucial 15000-support holds, we will keep an eye on the index’s recent sideways trend but if it breaks below 14950, traders should expect further losses.

The technical picture in the EUR/USD and GBP/USD has not changed since yesterday and it remains to be seen whether the support levels at 1.21 and 1.38 will hold.

Have a beautiful weekend.

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We wish you good trades!

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Quiet Market Environment – Until Now

March 30, 2021/in General News & Updates /by MaimarFX

Not much was going on in the Forex market on Monday.

Headlines about the Archegos Capital Management implosion and concerns about a potential contagion effect did not affect the currency market. In a nutshell, the risk rally continues on the back of the protective shield of Federal Reserve stimulus and investors enjoy it while it lasts.

GBP/USD: The pound headed for a test of the 1.3850-resistance area but bullish momentum was not enough to push the pair higher, so the cable finally ended the trading day virtually unchanged. In short-term time frames, we will now focus on a downside break of 1.3750 which could lead to further losses towards 1.3670. On the upside and above 1.3815 again, we may see another leg up targeting at 1.3870-80.

EUR/USD: The euro remained stuck in a very narrow trading range between 1.1795 and 1.1760. We will have to wait and see.

DAX: The index climbed towards 14900 and the 15000-level is the next target for bulls. If the index falls however below 14800, chances could shift in favor of the bears.